Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
MIssissippi Wind Pool Goes Shopping for Reinsurance in London
Jan 31 2012 // Members of Mississippi’s wind pool board are in London this week to seek low reinsurance rates — a key factor in the cost of policyholders’ premiums. The Mississippi Press reported that they left Saturday and...
S&P: Excess Capital, Strong ERM Give Reinsurers 2011 Cat Loss Cushion
Jan 26 2012 // Standard & Poor’s Ratings Services announced that it is “maintaining its stable outlook on the global reinsurance sector despite the near-record level of catastrophe losses in 2011,” as it...
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
Court Upholds Travelers vs. Reinsurers in Big Asbestos Award
Jan 25 2012 // A New York appellate court affirmed a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in history. The...
Best Affirms American Modern Home Insurance and Subs Ratings
Jan 23 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Ohio-based American Modern Home Insurance Company (AMHIC) and its...
Best Upgrades Arch Re, Operating Affiliates Ratings to ‘A+’
Jan 23 2012 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A+’ (Superior) from ‘A ‘(Excellent) and the issuer credit ratings (ICR) to “aa-” from “a+” of...
People
Jan 23 2012 // Woodbury, N.Y.-based Sterling & Sterling appointed Leslie Nylund as president of the insurance brokerage. Nylund will be responsible for the firm’s operations, including sales, employee benefits, client services...
Beyond Golf: P-U-T-T-E-R’s the Name of the Game in E&S World
Jan 23 2012 // Golf could be called the go-to sport of the insurance industry, so it’s safe to assume that most insurance professionals know what a putter is – a tool for cursing and hurling to the ground after a missed shot,...
People
Jan 23 2012 // Swantner & Gordon Insurance Agency has added Thomas Peel in the marketing department of the firm’s Houston office. As a marketing representative, Peel will be responsible for analyzing and placing risk with...
Fairfax to Acquire 25% Stake in Thai Re
Jan 20 2012 // Fairfax Financial Holdings Limited announced that it has agreed to acquire approximately 25 percent of the issued and outstanding shares of Thai reinsurer, Thai Reinsurance Public Company Limited, for approximately US$70...
N.Y.-based Navigators Group Adds Professional Liability Reinsurance Unit
Jan 20 2012 // Rye Brook, N.Y.-based specialty insurer The Navigators Group said this week that its principal underwriting agency subsidiary, Navigators Management Company, expanded its Navigators Re division by launching a professional...
Cavanagh Appointed Willis Re CEO
Jan 19 2012 // Willis Group Holdings announced the appointment of John Cavanagh as CEO Willis Re, the reinsurance broking arm of the Willis Group, effective immediately. He succeeds Steve Hearn, who was appointed Chairman and CEO Willis...
Summit Re Adds Peterson to Executive Team
Jan 19 2012 // Summit Reinsurance Services Inc. (Summit Re), based in Fort Wayne, Ind., has added Vice President and Lead Reinsurance Underwriter Shaun Peterson to its executive staff. Peterson joins the Summit Re actuarial and...
Alterra Receives Approval to for Local Reinsurance Company in Brazil
Jan 18 2012 // Bermuda-based Alterra Capital Holdings Limited announced that the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados (SUSEP), has given final approval for it to establish a local...
N.Y.-based U.S. RE Hires Guy Carpenter Exec as Senior Vice President
Jan 11 2012 // Global reinsurance broker U.S. RE Corp. appointed reinsurance veteran James Nelson as senior vice president. Nelson is a reinsurance executive with more than 30 years of experience. He served more than 30 years at Guy...
Aon Benfield 2011 Catastrophe Study: $107 Bn Insured Losses; $435 Bn Economic
Jan 10 2012 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has issued its “Annual Global Climate and Catastrophe Report,” which aggregates and analyses the natural disaster perils that...
Best Concludes Global Reinsurance Ratings Outlook for 2012 is Stable
Jan 10 2012 // A.M. Best Co. has released a briefing on the 2012 global reinsurance outlook, which concludes that despite the near record number of catastrophic event in 2011, the rating outlook “is being held at...
People
Jan 9 2012 // Southwestern Insurance Information Service elected Lyndell Haigood, regional vice president of State Auto Insurance, as chairman of the board; David Lacefield, executive vice president, National Lloyds Insurance, as vice...
IAG Finalizes $4.86 Billion Reinsurance Program for 2012
Jan 4 2012 // Insurance Australia Group Limited announced that it has finalized its catastrophe reinsurance program for the period commencing January 1, 2012 with up to A$4.7 billion [US$4.86 billion] in coverage, compared to A$4.1...
Willis Re Reports Jan. 1 Renewals Focus on Nat Cat Data
Dec 30 2011 // An analysis from Willis Re, the reinsurance broking arm of Willis Group Holdings, notes that the majority of this year’s catastrophe losses arose “from un-modeled or inadequately modeled perils or...
